Three Convincing Reasons Why You Should Form Your Own Company

Three Convincing Reasons Why You Should Form Your Own Company

There are a great many reasons why you should form your own company. I started my own business over eight years ago, and have had a very interesting life as a result. I would concede however that new company formations aren't without the downsides. There is the stress and responsibility. The hours can sometimes be horrendous, leaving you little social time or time for the family. That said, with every UK company formation I have setup, there have been many a positive reason for doing so. Let's be realistic, most budding entrepreneurs start in business because of the lure of lots of cash! Granted there are equally, many businesses that are a labour of love. Even if your business is one of love, you don't turn the money down! You do have the hazard that you could lose all your money when running a business. It is entirely possible that you could work every hour god send, invest everything you have and the business still fail. You could even end up owing money. Before you run to the hills, it is worth bearing in mind the very opposite is possible. You have every chance of succeeding if you plan well. Business owners do make a small fortune by either selling their business or setting it up in such a way it runs itself. If you are thirty now, imagine retiring at forty! There is such thing as a lifestyle business- a company that works for you. You can live the kind of life you simply never would be able to in a 9-5 job. Again, worse case scenario, when you start a business you will get little sleep. I once managed an ISP which had me on call 24/7. While I made mistakes with this business in that I hadn't yet learnt to delegate properly, I did find I never had any real time to do the things I wanted. The fact that business always came first and had a negative effect on my life. This is how business shouldn't work. When setting up a new company, it's vitally important from the start to work out just how the business will run without you. Think of yourself as the architect, not the builder or maintenance man. Your business should free up your time. I sometimes finish early because my business allows me to do so. My business works for me, not vice versa. Running a business can give you a tremendous sense of achievement. There is nothing quite like building your own big client base. To top it all off, you have both the above, time and money to enjoy life. It is all do-able. The rat race really isn't much fun. OK, so running a business isn't without its pressures- but just look at all the benefits. You don't have to go in head first at the deep end either. Most businesses start as hobbies- so what are you waiting for?

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